business leaders community MARCH 2013 VOLUME 2 ISSUE 3
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INTERVIEWS n
IRAQ WHERE RISK MEETS REWARD
INVESTMENT n
MAGAZINE OPPORTUNITIES
RESOURCES PARTNERSHIP AGREEMENTS NEW BUSINESS TRENDS 2013
EVENTS
Arab Business Club 2nd Middle East Free Zone Event
REPORTS
Energy of the future expo - 2017
March 2013, Vo. 2 Issue 3 ISSN 2304-3989
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INSIDE MARCH 2013
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EVENTS
Arab Business Club 2nd Middle East Free Zone Event
NEWS
Arab Business Club Forges Strategic Alliance with Renno Communications Group
Report
Kazakhstan, the country located in the heart of Eurasia, made another huge step towards being a visible nation, with no relation to its massive geographical size.
MEMBER PROFILE
Samer Renno started his career as a journalist and writer, where he travelled and covered stories from major troubled areas in the region, until he settled to writing business stories, which helped him grasp the corporate world in all its sectors.
ARAB BUSINESS CLUB MARCH
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COUNTRY FOCUS
Iraq has changed. As normal life begins to resume, economic activity has revived. Demand for all types of goods and services is growing fast. The focus is on reconstruction as the government rebuilds essential infrastructure, from power and water utilities and transport infrastructure to residential housing.
Resources Investment
You can, of course, create a general partnership agreement with a handshake - but it’s not smart. Like any relationship, partnerships are fraught with opportunities for disagreement and misunderstanding.
Resources – Management
When you start a small business, you need to decide how to structure it. Each structure has pros and cons, and the best format will depend on your business, location and specific needs.
market intelligence
Lebanon’s energy ministry has signed a $348m agreement with a DanishGerman consortium to build new power plants in Jiyyeh and Zouk, The Daily Star has reported. British bank HSBC and the EKF, Denmark’s export credit agency, have offered to provide an extended loan for the project.
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MARCH 2013 arabbusinessclub.org 7
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FOREWORD
Doing business today is vastly different to what it used to be a decade ago. The huge revolution in communication and transportation sectors and their ever increasing capabilities have made international investment collaboration much easier than it used to be, while the global nature of today’s economies made multinational companies foreign investments not only possible but, also, necessary! Free Zones have always been one of the most effective drivers for foreign investments and the preferred route for international investors from all over the world. Thus, comes Arab Business Club’s 2nd Middle East Free Zone Event, scheduled to take place on March the 13th. The Event aims to gather the Free Zone business leaders to talk about business in the Middle East Free Zones. The event is also designed to tackle different strategies on how a certain organization can achieve sustainable competitive advantage in Middle East and worldwide markets. 15 Free zones, 4 speakers and tens of business leaders make this event the foremost annual gathering of regional and international business leaders, top industry players, decision makers and their global counterparts. Attendees will have the opportunity to:
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• Learn about the impact of Free Zones to the economic development of the Arab World, from the perspective of industry players. • Get in-depth insight into the economic relevance and implications of Trade Agreements between regional Free Zones and the West. • Discuss challenges, opportunities and the 2013 outlook for Free Trade Zones. Examine and analyze how regional Free Zones can strategically complement each other. • Get expert opinions about the best business practices for companies operating in Free zones. • Benefit from networking opportunities that can enhance your trading opportunities and build trustful relations. • Interact with Free Zones Authority to learn about how to set up business in the Free Zones or expand business in the Arab World. The event will bring undeniable benefits to all participating parties. It will bring together the strengths of individuals and countries alike and will make it easy for investors to acknowledge all the services provided to them by the various free zones in the region and the necessary procedures to set up their businesses in these zones. I invite all top-level management members in our club to attend this event and make the most out of this unique opportunity.
Hamdan Mohamed Al Morshedi President and Publisher @HamdanMorshedi
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EDITORIAL
Business as Usual… Winter is always the busiest month of the year for all companies in the GCC, last month saw the pace of business in the region picking up and the economic cycle quickly returning to its neck-breaking pace, especially in Dubai, the Middle East’s number one business hub. Last month was also a busy month for Arab Business Club, the region’s premier community for business leaders and decision makers. All these events and news are covered in detail in our “Events” section. Our “Country Focus” section has a very important and exiting report about the prospects of Investment in Iraq, a country whose richness and vast oil reserves are only matched by its extremely volatile political situation and the huge level of risk awaiting those who dare to invest there. The report explains the challenges facing investors in the country and the huge returns they can achieve if they are willing to face these challenges. Our “Market Intelligence” section is full of interesting news about the latest deals and contracts inked in the region while our “News” section will keep you informed about all the latest changes and developments. Our ‘Resources’ section will provide CEOs, business leaders and entrepreneurs with some vital advices in the different aspects of running a business, be it Management, Investment, finance, marketing or Human resources. While the rest of our sections will continue to provide all the useful information, opportunities and advices you used to love and expect from Arab Business Club magazine.
BUSINESS CLUB MAGAZINE
President & Publisher
Hamdan Mohamed Al Morshedi hamdan@arabbusinessclub.org
Managing Editor
Basel Aal Bannoud editorial@arabbusinessclub.org
Editorial Assistant
Eman Ahamed editor@arabbusinessclub.org
Contributors
Dr. Sultan Al Shaali Hind Jamjom Noura Al Suwaidi
Art Director
Arab Business Club Design Department design@arabbusinessclub.org
Sales & Marketing
business@arabbusinessclub.org
Subscriptions
Subscriptions Prices
GCC US $30 Annabelle Crisostomo REST OF THE WORLD US $60 sub@arabbusinessclub.org eMAGAZINE US $12
Basel Aal Bannoud Managing Editor
Published By
Arab Business Club Delaware, New York 676A Ninth Avenue # 551
Distributed by:
Northern Star Publishing & Distribution Office No. 111, Pyramid Centre Oud Metha, P.O. Box 2188 Dubai - United Arab Emirates Tel: +971 4 3583000 Fax: +971 4 3583003 www.arabbusinessclub.org @Arab_Business www.facebook.com/Arabbusinessclub
Disclaimer
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All rights reserved. The opinions and views expressed in this publication are not necessarily those of Arab Business Club. Readers are requested to seek specialist advice before acting on information contained in this publication, which is provided for general use and may not be appropriate for the readers' particular circumstances. While every effort is taken to ensure accuracy of the information contained in this publication, the publisher is not liable for any errors and / or omissions contained in this publication.
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EVENTS
Arab Business Club 2nd Middle East Free Zone Event
4 Speakers 15, Free zones, 100 Business leaders:
BUSINESS CLUB
Under the patronage of His Highness Sheikh Juma Bin Maktoum Bin Juma Al Maktoum, the Honorary Chairman of the Arab Business Club, Arab Business Club is hosting the 2nd Middle East Free Zone Event, 13th March, 2013, Dubai, U.A.E. Hamdan Mohamed Al Morshedi, President and Chairman of the Board, Arab Business Club, has the honor to extend to you a formal invitation to “Arab Business Club 2nd Middle East Free Zone Meeting” on the 13th of March, 2013, Sheikh Zayed Road.
Dr. Ayoub Kazim
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Dr. Rashid Alleem
he Middle East Free Zone Event aims to gather the Free Zone business leaders to talk about business in the Middle East Free Zones. The event is also designed to tackle different strategies on how a certain organization can achieve sustainable competitive advantage in Middle East and worldwide markets. The Middle East Free Zone Event aims to be the foremost annual gathering of regional and international business leaders, top industry players, decision makers and their global counterparts.
Our Speakers:
• Dr. Rashid Alleem is widely considered a visionary and thought leader in business, socio-economic, academic and cultural endeavors. Respected by peers as a strategic thinker, Dr. Alleem dons many hats and hones various passions. As the Director General of Sharjah Ports 12 arabbusinessclub.org MARCH 2013
Mr. Nader Atout
Mr. Oussama El Omari
and Customs and the Hamriyah Free Zone Authority, he is the driving force in transforming them into a strategic commerce hub and empowering thousands of businesses in the region, contributing to the development of the UAE economy. • Mr. Nader Atout is an experienced MBA and Harvard Alumni with 18 years of experience in managing public and multinational corporations. Mr. Nader Atout specializes in providing strategic leadership for the businesses to formulate vision and delivering on its mission. He has previously worked as managing director for Dimension Data Middle East. Mr. Nader Atout is currently working as executive director for twofour54 with a mission of creating an ecosystem that will allow the content creation industry to flourish in the Middle East. • Dr. Ayoub Kazim is the Managing
Hamdan Mohamed Al Morshedi
Director of the Education Cluster of TECOM Investments, a member of Dubai Holding. Dr. Kazim is in charge of both Dubai Knowledge Village (DKV) and Dubai International Academic City (DIAC). He is responsible for strategically steering all DIAC and DKV academic entities and further consolidating their statuses as leading centres of learning excellence in the region. • Mr. Oussama El Omari holds a bachelor’s degree in Chemical Engineering and an MBA from the U.S. His knowledge of world trade and global import/export trends has led him to chair the UAE Free Zone Round Table and has served as the Secretary General of the World Economic Processing Zone Association (WEPZA). Mr. El Omari has also shared his wealth of knowledge and expertise by speaking at free zone conferences in Europe, USA, Middle East and North America.
Some of the Confirmed Guests of Honor: Attendees from Free Zone Mr. Paco De Jaimes Chairman/CEO World Authorities: 1. Hamriyah free zone Sharjah 2. Public Establishment for Industrial Estates (PEIE) “Oman” 3. Twofour54 4. Dubai Technology and Media Free Zone Authority 5. Abu Dhabi Airport Free Zone 6. Ministry of Economy 7. Sharjah Airport International Free Zone Authority 8. Dubai International Airport 9. Ras Al Khaimah Free Trade Zone 10: RAK Offshore 11: Ajman Free Zone 12: Khalifa Industrial Zone Abu Dhabi ( KIZAD) 13: Dubai Knowledge Village (DKV)& 14: Dubai International Academic City (DIAC) 15: Dubai Maritime City Authority
Event agenda • 7:00 pm Registration & Networking • 8:00 pm Welcome speech by Mr. Hamdan Mohamed President of Arab Business Club • 8:05 pm Dr. Rashid Alleem, Customs and Sharjah Free Zone Authority & Director General Sharjah Department of Seaports , Speaking about “Sustainability in “ Sharjah Free Zones” • 8:20pm Mr. Nader Atout, Executive Director, TwoFour54, “Free Zone Role in Bringing in the Business to the Arab World, twofour54 Sucess in attracting investment” • 8:35pm Dr. Ayoub Kazim - Managing Director, Dubai Knowledge Village (DKV)& Dubai International Academic City (DIAC), “Educational Free Trade Zone and its ability to transform good education to Arab World” • 8:50pm Mr. Oussama El Omari, Principal Advisor to the Chairman of RAK FTZRas Al Khaimah Free Trade Zone “RAK FTZ” “How Zones Can Succeed in Global Logistics and the Supply Chain” • 9:05 pm Buffet Dinner and networking • 10:30pm End of event.
Fashion Week Mr. Marwan Al Sarkal CEO Sharjah Investment & Development Authority SHUROOQ Mr. Akavut Kusonwong Chirman Thailand Business Council Mr. Haji Obaidulla Sader Khalil Chairman Afghan Business Council Mr. Sandeep Sharma, Chairman, Singapore Business Council Mr. Nadir Zafar, President, Singapore Business Council
Diplomats: Ambassador: HE. Flavio Fonseca, Angola HE. Behar Bejko, Albania HE. Jean-Paul Tarud, Chile HE. Warawuch Chuwiruch, Thailand HE Lenin Bandres Herrera, Boliovarian Republic of Venezuela Consul General: HE. Rob P. Waller, USA HE. M.M. Abdul Raheem, Sri Lanka HE Ross Miller, Canada HE Angel Kalinov, Bulgaria H.E. Julio Maiato, Angola HE Young Jong Hong, Republic of Korea HE K.Alex Woodley, St. Kitts and Nevis
Who Should Attend?
CEOs, Free Zone Authorities, Business Owners, Top Management Executives and Arab Business Club Members Please note that this is Top management event only.
Why Attend? • Learn about the impact of Free Zones to the economic development of the Arab World, from the perspective of industry players. • Get in-depth insight into the economic relevance and implications of Trade Agreements between regional Free Zones and the West. • Discuss challenges, opportunities and the 2013 outlook for Free Trade Zones.
• Examine and analyze how regional Free Zones can strategically complement each other. • Get expert opinions about the best business practices for companies operating in Free zones. • Benefit from networking opportunities that can enhance your trading opportunities and build trustful relations. • Interact with Free Zones Authority to learn about how to set up business in the Free Zones or expand business in the Arab World. The event will run from 7:00 pm to 10:00 pm with dinner at 9:00 pm.
Dress Code:
Business or National Attire
Registration:
Kindly register by sending the following information to events@arabbusinessclub. org: ABC Members: * Name * Membership Number Non-Members: * Name * Title/Designation * Company Name * Mobile Number * Email Address
Payment: Payment can be made through Pay Pal or Bank Transfer. Payment fee is as follows: • For Arab Business Club Members: FREE (registration needed) • Business Councils members: 300 AED. • For Non- Members: AED800 before 10th of march 2013 + AED1500 on the date of the event. • Fees once paid will not be re-funded, registration is not transferable. For Sponsorship Opportunities, please call +971 4 358 3000 or email events@ arabbusinessclub.org. MARCH 2013 arabbusinessclub.org 13
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EVENTS
Arab Business Club’s Delegation Visit to Thumbay Group of Companies Keen on providing its members with the greatest opportunities and opening the doors for promising and lucerative business opportunities, Aratb Business Club, the region’s preimier community for investors, business leaders and decision makers, organized on Jnuary the 29th its first delegation visit for the year 2013. The delegation, comprised of chosen members, visited Gulf Medical University’s Campus and attended a reception, presentation, site tour and lunch all prepared by Thumbay Group of Companies with the attendance of its founder and president, Mr. Thumbay Moideen. 14 arabbusinessclub.org MARCH 2013
ARAB BUSINESS CLUB
Mr. Hamdan Mohamed Al Morshedi, president and chairman of the board, Arab Business Club welcoming Mr. Emad Al Hasouni, Managing Director, Superior Technologies
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Mr. Hamdan with Dr. Galina Zhirnova, Professor, Medical University, Chuvash Republic of Russia, Ms. Tatiana Pekach, Director of Profile & Head of the Leaugue of Beauty Industry Professionals of Chuvash Republic, Ms. Irina Markova, Director, Spa Aurum Oasis Lux, Chuvash Republic of Russia
he visit started at 11 AM with a cocktail reception that saw the club members and Thumbay’s executives networking and exchanging opinions and ideas.
The receptions was followed by a seminar in one of the university’s amphitheaters, The seminar opened by a speech by Mr. Hamdan Mohamed Al Morshedi, president and chairman of the board, Arab Business Club, who said: “Delegation visits are one of Arab Business Club’s traditional activities that have proved to be exceptionally useful in bringing our members together and introducing them to market-leading players and decision makers. This is only the first visit of several delegation visits planned for our members throughout 2013.” “Today we are visiting THUMBAY GROUP OF COMPANIES, a business conglomerate headquartered in Ajman, United Arab Emirates.
H.E. Flavio Fonseca, Ambassador, The Embassy of the Republic of Angola, Abu Dhabi, Mr. Thumbay Moideen, Founder President, Thumbay Group, Mr. Coutinho Viquissi Copumi, Counsellor for Irena Affairs, The Embassy of the Republic of Angola, Abu Dhabi
Mr. Hamdan having a friendly talk with Mr. Vinod Abraham, Director – External and International Affairs , Thumbay Group
Mr. Hamdan and Dr. Mohammad Tariq, Chairman, Axis Auditing and Accounting, having a discussion at one of the university’s labs
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EVENTS
Group picture of Arab Business Club’s delegation at Thumbay Group’s Executives
Mr. Hamdan with Mr. Claude Valle, President, French Business Council, Dubai and Northern Emirates and Dr. Ghassan Al Khatheri, CEO, Net Tours and Travel LLC
Mr. Hamdan welcoming Mr. James Chang, Director, Taiwan Trade Center in Dubai and Mr. Fu Tai Wei, General Manager, Taiwan Trade Center in Dubai and business delegates from Taiwan
Networking... 16 arabbusinessclub.org MARCH 2013
ARAB BUSINESS CLUB
Mr. Hamdan with Vignesh S. Unadkat, Director - IT & Promotions, Thumbay Group and Mr. Moideen Farhad C., Director, Hospitality Division, Thumbay Group
Mr. Thumbay Moideen, Founder President, Thumbay Group having a serious discussion with one of the delegates
Beauty was there too...
The group has progressed vigorously over the years and is managed by highly experienced professionals headed by the group’s President Mr. Thumbay Moideen, A man of vision and dynamism, with a determination to succeed. I want to thank you all for coming and thank our gracious host and I promise you an exciting year full of businessgenerating events and activities with Arab Business Club’s ambitious plan for the year 2013,” he concluded. The floor was given then to Mr. Thumbay Moideen, founder and president, Thumbay Group of Companies, who thanked the delegation for their visit saying: “It’s an honor to welcome you into our campus and we I want to thank my friend Hamdan and Arab Business Club for organizing this visit.”
Mr. Hamdan and Mr. Ammar Al Duwaikh, Sales & Leasing Manager, Dubai Investments Park Development Co. LLC taking a tour of the campus MARCH 2013 arabbusinessclub.org 17
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EVENTS
Mr. Hamdan taking a memorial photo with Mr. Akbar Moideen Thumbay, Director of Operations, Healthcare and Retail Division, Thumbay Group and Mr. Thumbay Moideen, Founder President, Thumbay Group
Mr. Hamdan exchanging views and stories with H.E. Flavio Fonseca, Ambassador, The Embassy of the Republic of Angola, Abu Dhabi
Mr. Indranil Bandyopadhyay, General Manager, Almoe Digital Solutions,Llc, Mr. Prakash S. Parab, Director – WMS, Dulsco and Mr. Thumbay Moideen, Founder President, Thumbay Group 18 arabbusinessclub.org MARCH 2013
Mr. Vinod Abraham, Director – External and International Affairs , Thumbay Group giving the delegation a tour of the campus
ARAB BUSINESS CLUB
Mr. Cahyo Purnomo, Head of Indonesia Investment Promotion Centre (IIPC) of Abu Dhabi, H.E. Salman Al Farisi, Ambassador, Embassy of the Republic of Indonesia in Abu Dhabi, U.A.E and Mr. Hamdan
Dr. Sultan A. Al Shaali, CEO, Al Shaali Group having a discussion with Mr. Hamdan and Mr. Thumbay Moideen, Founder President, Thumbay Group
Mr. Sultan Al Sultan, General Manager, Maximum Protection, Mr. Hamdan and Mr. Yunus Abdulhayye Ma, Director of Information Division, Commercial Office of the Taiwan
“ We are always looking forward towards expanding our business and the reason we are having this meeting with Arab Business Club members is to explore the prospects of cooperation and the expansion opportunities that we might find both locally and regionally. Thank you again for your visit and I hope that you enjoy your visit to this university which is we’re extremely proud of.” He concluded. Mr. Thumbay’s speech was followed by a detailed presentation about Thumbay Group and Gulf Medical University in particular, given by Mr. Vinod Abraham, Director of internal and external affairs, Thumbay Group, followed by exchanging of gifts of appreciation between Mr. Hamdan Mohamed Al Morshedi and Mr. Thumbay Moideen . MARCH 2013 arabbusinessclub.org 19
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Mr. Hamdan Mohamed Al Morshedi, president and chairman of the board, Arab Business Club giving an inspiring speech
Mr. Hamdan and H.E. Behar Bejko, Ambassador, Embassy of the Republic of Albania in Abu Dhabi (UAE)
Mr. Hamdan and Mr. Ammar Al Duwaikh, Sales & Leasing Manager, Dubai Investments Park Development Co. LLC
Mr. Mohamed Hamdan Bin Jarsh, Director General, University City, Dr. Omar A. Mashabi, General Manager, Al Hanoo Real Estate , Mr. Hamdan, Mr. Fahid Abdullah Al Shakra, Vice Chairman, Al Hanoo Real Estate,
Watching a presentation about the university
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ARAB BUSINESS CLUB
Mr. Thumbay Moideen, Founder President, Thumbay Group giving his speech
Group picture
Networking...
An exciting site-tour followed, through which the delegation got to see first-hand the advanced level of education and training the students are getting in Gulf Medical University. The site tour was followed by a delicious lunch full of tasty dishes prepared by Mr. Tumbay’s own “The Terrace” restaurant.
Dr. Manvir Singh Walia, Medical Director - Operations, Healthcare Division, Thumbay Group, Mr. Vignesh S. Unadkat, Director - IT & Promotions, Thumbay Group, Mr. Vinod Abraham, Director – External and International Affairs, Thumbay Group MARCH 2013 arabbusinessclub.org 21
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NEWS
Thumbay Moideen Featured in the First Ever Listing of the GCC’s 50 Richest Indians… Two Arab Business Club Members Featured in the List
Mr. Thumbay Moideen, founder and president, Thumbay Group, with Mr. Hamdan Mohamed Al Morshedi, President and Chairman of the Board, Arab Business Clu.
“Mr. Thumbay Moideen, founder and president, Thumbay Group, was ranked 30 on the list with an estimated wealth of US$340m while Dr. BR Shetty, Chairman, NMC Group, was ranked 5th with an estimated wealth of US$1.9bn.”
Earlier after being featured amongst the 100 Most Powerful Indians in the Gulf for two consecutive years 2011 and 2012, this year Mr. Thumbay Moideen, Founder and President of Thumbay Group has been featured in the first ever listing of 50 Richest Indians in the GCC which was exclusively compiled and published by Arabian Business dated February 10, 2013. The UAE is home to a series of influential and rich Indians who have, in their own inimitable style, shaped the way they live, work and do business in this country. Whether these are big businessmen or wedding planners, banking professionals, or sports stars, the individuals on our pages have woven a few threads of their own into the multicultural tapestry of the UAE, each bringing a little bit of India to the way things work here. Mr. Thumbay Moideen was ranked 30 on the list with an estimated wealth of 22 arabbusinessclub.org MARCH 2013
US$340m. He believes that the best way to learn is through travel and by meeting people: “Visiting new places, dealing with different cultures, understanding their way of doing business and lifestyle adds to one’s personality.” The vision of Thumbay Group is to be one of the biggest Corporates with a global presence in the next seven years. Another Arab Business Club to be featured on the list was Dr. BR Shetty, Chairman of NMC Group, who was ranked 5th
with an estimated wealth of US$1.9bn. The list of 50 Richest Indians in the GCC also shows that Indians are playing a vital role in boardrooms of both International and local banking and retail sectors operating in the region. But, if anything, the Arabian Business Rich List shows just how far the Indian diaspora has become enmeshed in Gulf Society with the region’s 2.5 million expatriates working in every sector imaginable.
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NEWS
Arab Business Club Forges Strategic Alliance with Renno Communications Group Regional PR Agency to provide Arab Business Club with leading communications tactics to strengthen its profile in the Middle East and North Africa 24 arabbusinessclub.org MARCH 2013
ARAB BUSINESS CLUB
Arab Business Club (ABC), a prominent and high profile business networking group in the Arab world, with headquarters in USA, announced on February the 19th 2013 the signing of a strategic alliance with Renno Communications Group (Renno CG), one of the region’s leading Public Relations and Communications consulting agencies. As part of the agreement, Renno Communications will manage ABC’s public relations requirements through the design and implementation of a 360 degrees of communications tactics, aimed at raising the profile of ABC among its target markets and raising awareness of its services among its key stakeholders. According to Mr. Hamdan Mohamed Al Morshedi, President and Chairman of the Board, Arab Business Club, “the strategic alliance with Renno Communications Group comes as a clear indication of ABC’s determination to partner with a reputable PR agency that possesses a proven track record of professional management of diversified industries and sectors across the region.” “Following a comprehensive pitch process, we are delighted to select Renno Communications Group as a strategic partner to plan and manage our communications and public relations requirements in the region,” commented Mr. Al Morshedi at the signing of the agreement. “The Renno CG team has demonstrated a thorough understanding of our goals and objectives, and coupled with their commitment and diligence to delivering the best tactics to support our organization, I believe we have now taken the first steps toward a long and prosperous business relationship.” Samer Renno, Chief Executive Officer of
“Mr. Hamdan Mohamed Al Morshedi, President and Chairman of the Board, Arab Business Club: “the strategic alliance with Renno Communications Group comes as a clear indication of ABC’s determination to partner with a reputable PR agency that possesses a proven track record of professional management of diversified industries and sectors across the region.” Renno Communications Group, commented: “I am pleased to be given the opportunity to work closely with the Arab Business Club, represented by Mr. Hamdan Mohamed Al Morshedi. This is an exciting partnership that will enable us to showcase our outstanding performance and deliver an exceptional impact through utilizing our integrated PR/Communications services.” Renno added: “Our agency is defined by both its creativity and commitment to the delivery of unparalleled levels of client servicing. As the trusted PR agency across MENA for Facebook, Groupe SEB, Potential.com, Nimbuzz, UAE Internal Audit Association, to name a few, Renno CG will offer the Arab Business Club the professional communications tactics it requires to take
its brand reputation to the next level of regional and global recognition.” With over 8,500 members spanning across the UAE and the world, ABC have since its inception in 2008 served as a unique platform, offering a robust link between professional and business leaders in the Middle East and the rest of the world. The organization aims to establish and foster crosscultural understanding among the business communities through the organization of numerous business networking events, conferences and high profile delegation visits, thus allowing companies and business professionals to expand their outreach and improve their business development.
“Samer Renno, Chief Executive Officer of Renno Communications Group: “I am pleased to be given the opportunity to work closely with the Arab Business Club, represented by Mr. Hamdan Mohamed Al Morshedi. This is an exciting partnership that will enable us to showcase our outstanding performance and deliver an exceptional impact through utilizing our integrated PR/ Communications services.”
MARCH 2013 arabbusinessclub.org 25
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NEWS
Qtel Group rebrands as Ooredoo
Qtel group and all of its operating companies in the Middle East and North Africa are to be known as Ooredoo. Formerly Qatar’s exclusive telco provider, the firm already has a controlling interesting in Qtel in Qatar, Indosat in Indonesia, Wataniya in Kuwait, Nawras in Oman, Tunisiana in Tunisia, and Nedjma in Algeria. The announcement was made at Mobile World Congress in Barcelona by Ooredoo Chairman Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani. Argentinian footballer, Lionel Messi, was also appointed global brand ambassador and Ooredoo pledged to support the Leo Messi Foundation. “With Ooredoo we have chosen an Arabic word that means ‘I want’”, explained Sheikh Abdullah Al-Thani. “We believe that young people should be given the life chances that mobile technology can provide; that under-served communities should be able to access the Internet; that every woman should have an equal opportunity to use a mobile phone; and that entrepreneurs and small busi26 arabbusinessclub.org MARCH 2013
nesses should be able to receive business services tailored to their needs. Our new brand reflects these beliefs,” said His Excellence. Ooredoo has experienced significant growth over the last six years, transforming from a single market operator in Qatar to an international communications company with a global customer base of more than 89.2 million people (as of 30 September 2012) and consolidated revenues of $6.8 billion for the first nine months of fiscal year 2012. Delivering mobile, fixed, broadband internet and corporate managed services tailored to the needs of consumers and businesses in emerging markets, Ooredoo has been the fastest-growing telecommu-
nications company in the world by revenue since 2006 and its enterprise value has more than tripled since 2005. The company has initiated a major modernisation programme across its core network and is investing for the future to deliver high speed broadband as new frequencies and new technologies open up. Dr. Nasser Marafih, Group CEO, Ooredoo said: “It is our belief that we can better serve our global customers by leveraging the combined resources and assets of a strong, unified global business under one brand. We also believe that rebranding now will help us to maintain our momentum in the face of new realities for the industry, signaling our commitment to become a global force.”
6/28/12 3:15 P
ARAB BUSINESS CLUB
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MARCH 2013 arabbusinessclub.org 27
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REPORT
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ARAB BUSINESS CLUB
Kazakhstan to Host EXPO-2017 Kazakhstan, the country located in the heart of Eurasia, made another huge step towards being a visible nation, with no relation to its massive geographical size. This is to say that this Central Asian country appeared to be the first country of former Soviet Union, which will host in 2017 EXPO world international Exhibition which will be held under the slogan: “Energy of the Future”. In June 10, 2011 Kazakhstan officially articulated its bid to host the EXPO2017. The official Kazakh representatives submitted to the Secretary General of the Bureau the Kazakh bid. On November 22, 2012 Kazakhstan was elected in Paris, where 157 memberstates of the Bureau of International Expositions gave the majority of their votes to the Kazakh capital Astana. Kazakhstan joined the Bureau of International Exposition in 1995 but only since 2005 the Kazakh expositions appeared at EXPO events. But every new appearance of Kazakhstan at EXPO revealed tangible enlargement of the Kazakh national sector at the Exhibition. The first appearance of Kazakhstan at EXPO-2005 in Japan the national exposition area was about only 324 sq. m. But in EXPO-2008 and EXPO-2010 in Saragossa and Shanghai Kazakhstan’s exposition area totaled 590 and 1500 square meters respectively. However, the growing Kazakh participation was not only about physical extension of the national exhibition area but it also
stressed the quality of that participation. In this regard in Spanish Saragossa the Kazakh exposition was awarded out of 104 states by the 3rd Prize for the quality of internal and external embellishment of the national exposition. The slogan of the EXPO-2017 in Astana will “Energy of the Future”, which definitely seems to be a right choice for a country endowed with enormous natural energy resources, namely oil, gas and uranium. However, not only energy producing countries, but also the consuming nations undoubtedly must share the concern of what the world might become after the depletion of oil and gas reserves worldwide. Keeping in mind that oil extraction rates are decreasing and its price steadily grows, the world is expected to start using alternative sources of energy. This is why Kazakhstan’s bid to host EXPO-2017 under such slogan might be a good opportunity for the world to witness the latest achievements in creating these new sources.
for the entire area of Central Asia, which gets the chance to demonstrate worldwide its enormous economic potential. On the other hand, the rest of the world will definitely enlarge its knowledge about Kazakhstan, which became the first Muslim population dominated country to have been honored to host such a global-scale event, like EXPO Exhibition.
EXPO-2017 will undoubtedly be a massive event not only for Kazakhstan, but
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MEMBER PROFILE
Samer Renno The Man Who Changed the PR Scene in the Region Samer Renno started his career as a journalist and writer, where he travelled and covered stories from major troubled areas in the region, until he settled to writing business stories, which helped him grasp the corporate world in all its sectors. Later, in the mid-90s, he found his passion in PR and embraced that as a career. He aligned his journalism and writing skills with the professional PR discipline, with the aim of creating a communications bridge between organizations and their target audiences, be that in the public or private sectors.
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aunched in 1999 in Beirut, Lebanon as Renno & Associates and in 2007 expanded regionally with the launch of the Dubai operation and in the same year opened an office in Cairo, as part of an ambitious expansion plan that was intended to service their existing clients who were requesting their services in those markets. The main objective behind launching the Agency was to provide international standard of Public Relations and Communications services to the private and public sectors, adding to them the company’s strong understanding of the local cultures and needs that companies operating in the Middle East region require.
A Success Story
Renno Communications Group was built on Five Brand Values: Ethics, Transparency, Pro-Activity, Resourcefulness, and Dynamism. The agency’s mission is to deliver outstanding value and support to clients by increasing their brand exposure throughout the Middle East and North Africa (MENA) regions. At Renno Communications Group, 30 arabbusinessclub.org MARCH 2013
the vision is to exercise professionalism, integrity, honesty and experience to become the leading and formidable Public Relations consulting firm in MENA. “I am an entrepreneur and innovation is a key trait that I am proud to possess. I strongly believe in our ability to deliver services that match, if not exceed, our counterparts in the developed world. As such, I have worked relentlessly over the past years in order to stand out from the crowd and innovate new communications tools that will ultimately aide our clients and prospective ones in achieving their goals and objectives in a more strategic manner,” Renno says. Renno believes that clients around the region, and this fact may apply as well to the majority of developed and developing markets, require from their consulting partners the in-depth knowledge and close management of their communications requirements, coupled with the transparency and work ethics in executing the deliverables, as such he has developed a regional boutique agency that is able to deliver leading-edge services and work
with clients as part and parcel of their own entities by becoming an active extension to any company’s communications and/ or marketing departments: “I believe the role of a PR agency is highly essential to the maintenance of any brand’s positioning both among its key stakeholders and target markets.” Renno Communications Group provides today a full circle (360 degrees) of PR/ Communications services such as, External Communications (Press Office), Internal Communications, B2B Relations, Crisis Management, Corporate Social Responsibility, Market Communications Intelligence, Mystery Shopping and Customer Retention Programs, and Perception Audits.
Achievements
Over the past 14 years since its inception, the Agency gained the trust of a multitude of local, regional and multinational clients, from a wide spectrum of sectors and industries, who believed, and rightfully so, that their brands’ reputation can be safeguarded and managed in the utmost professionalism at Renno Communications Group.
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“I am an entrepreneur and innovation is a key trait that I am proud to possess. I strongly believe in our ability to deliver services that match, if not exceed, our counterparts in the developed world.” Throughout the years since it was founded the Agency managed PepsiCo International, Intel Corp, CA, Amlak Finance, Showtime, Business Software Alliance, MTC Group (currently known as Zain), to name a few, and most recently the compay is proud to be the Middle East North Africa PR agency of the world’s largest social network brand, Facebook, in addition to managing the PR accounts of the global French company – Groupe SEB – which owns well-known home brands such as Tefal, Moulinex, Rowenta, among others. Renno Communications Group is also the PR Agency of Nimbuzz (a global VoIP and Instant Messaging network), Potential. com, My-HD Media, the UAE Internal Audit Association, Al Noor Training Centre for
Children with Special Needs, and Wipro. “We currently manage the entire Middle East North Africa (MENA) regions, with two existing offices in the UAE and Lebanon, in addition to utilizing a network of on-the-ground project coordinators, who we have identified and worked with in each of the major markets in the region, where they provide us with the support necessary to ensure projects are managed in the best possible manner and most importantly in accordance with our processes and guidelines. I have also forged a global alliance with one of the world’s reputable PR agencies, Text 100, thus becoming this agency’s exclusive Licensed Partner in the MENA region. Text 100 has presence in around 90 cities across the world; hence our alliance
ensures that our clients in the MENA region can be serviced globally, if required, and vice versa,” says the PR tycoon.
Solid Potential
Renno envisions the Middle East as an important market that’s been developing in many sectors, among them ICT, Travel & Tourism, Telecommunications, Real Estate, to name a few. He believes that slowly but surely, the majority of global brands and companies are eyeing this region, and with their entry we can witness a major focus on PR services, to better position their growth and ensure their key messages are communicated effectively to the local publics. As for the PR discipline in particular, Renno is confident that there are still major markets MARCH 2013 arabbusinessclub.org 31
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that haven’t quite grasped the crucial role of PR and still confuse it with free advertising: “For that, PR agencies and practitioners’ alike play an important role in creating awareness for the discipline and the key tactics that it offers in order to take PR in the region to the next level of competitiveness with their counterparts in the world. I am confident that the Middle East will embrace the PR discipline.”
The differentiating Factor
Renno Communications Group is one of the oldest regional boutique PR agencies in the MENA region, and its strong knowledge of the various local/regional cultures, in addition to the global business environments/cultures, give it an edge as being a full-fledged company that continuously evolves to better serve its clients and innovate to stay ahead of the game: “We are known as an agency that delivers in accordance to our promises, and we provide the needed consultancy and advice to better serve the 32 arabbusinessclub.org MARCH 2013
interests of our clients. Our key differentiator has always been our ability to sustain and evolve in critical times that the region has passed by, thus providing the confidence to our clients that we are not only a stable company, but also that we possess the survivalist attitude to grow and prosper during tough times,” Renno points out.
Fast Forward
Renno’s perfectionism and desire to deliver the best possible customer service to his clients helped in positioning his agency as one of the most reputable in the region, but as to where does the PR legend see his company and himself in 10 years from now, Renno said: “In 10 years I’d like still be learning and working to perfect things in my life and my business; my aim is to make a difference and continue to innovate and dream of making PR the first outsourcing choice for companies and organizations in the MENA region. I also have plans to write a book or two, but will this happen within the next 10 years? I should hope so!”
“In 10 years I’d like still be learning and working to perfect things in my life and my business; my aim is to make a difference and continue to innovate and dream of making PR the first outsourcing choice for companies and organizations in the MENA region.”
Bennett Jones in the Middle East Commitment to Serve
Bennett Jones is the only Canadian-based firm to have established a legal practice in the United Arab Emirates and Qatar. We have assembled a team of GCC-resident senior advisors with 100 years of experience on the ground in the Gulf.
Traditional Areas of Strength
Lawyer Contacts: Abu Dhabi Tel +971 2 493 9000 James J. McDermott, Managing Partner mcdermottj@bennettjones.com
The firm’s traditional strengths are in key sectors for regional economies: oil and gas, renewable energy and clean-tech, health care, financial services, real estate, international trade, infrastructure and project development, as well as arbitration and disputes resolution. We combine deep industry understanding with world class technical skills in a broad range of legal disciplines.
Wael M. Wahbeh, Partner wahbehw@bennettjones.com
Understanding the Middle East
David Silver, Partner silverd@bennettjones.com
Our lawyers understand Middle East business practices and cultures, and provide pragmatic and effective advice. We provide advice on issues of U.K., U.S., and Canadian law, as well as the laws of the UAE and Qatar.
Experience around the world
The Bennett Jones Middle East offices are fully integrated with our international network in Toronto, Calgary, Edmonton, Ottawa and our representative office in Beijing. Our lawyers have worked on a vast range of regulatory, transactional and litigation matters in countries around the world.
Doha Tel +974 4 433 7366
Jay Fortin, Partner fortinj@bennettjones.com
Dubai
Tel +971 4 454 0800 Timothy N. Ross, Managing Partner rosst@bennettjones.com Osama Hassan, Senior Partner hassano@bennettjones.com Ewan Cameron, Senior Counsel camerone@bennettjones.com
Great regional insight – Chambers Global: The World’s Leading Lawyers for Business 2011
Widely respected – Legal 500 2010
Unrivalled in the UAE – Legal 500 2010
Your lawyer. Your law firm. Your business advisor.
© Bennett Jones 2012. All rights reserved.
http://www.bennettjones.com
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Where Risk Meets Reward! 34 arabbusinessclub.org MARCH 2013
ARAB BUSINESS CLUB Iraq has changed. As normal life begins to resume, economic activity has revived. Demand for all types of goods and services is growing fast. The focus is on reconstruction as the government rebuilds essential infrastructure, from power and water utilities and transport infrastructure to residential housing. At the same time, the government is investing in the essential economic infrastructure; including oil fields and the mid- and downstream pipeline, petrochemical, and fuel distribution sectors. Iraq presents a huge commercial opportunity across a broad range of sectors. After five years when security was the dominant issue in Iraq, the country has now entered a new, positive phase. As the Iraqi government and security forces have stepped up their capacity, the environment for trade and investment has transformed for the better. Millions of Iraqis now have the freedom to live, to trade, to work and to travel without fear. Security improvements are now substantial and tested. There have been notable improvements in the regulation of the business environment. The private sector has grown more important and is open to foreign investment for the first time in decades. These factors combine to create opportunities for trade and investment on an unprecedented scale.
Overall Investment Climate Interest in investing in Iraq has risen strongly, following substantial improvements in its security situation in the last year. Potential investors still note security concerns, but now are more likely to cite regulatory hindrances and other practical barriers to doing business as their key issues. While the end of 2009 and early 2010 saw a series of high-profile bombings targeting hotels and government offices, the frequency of broader sectarian violence and acts of war and terrorism continued to decline during 2009. This provided the Government of Iraq (GOI) and the Iraqi private sector the opportunity to make substantial progress toward improving the business and investment climate. In particular, the GOI expanded the capacity and function-
ality of the National and Provincial Investment Commissions and passed an amendment to the National Investment Law to clarify land use issues; the private banking sector also enjoyed growth. The GOI held two oil licensing (“bid”) rounds in which 44 foreign firms were allowed to bid for contracts to develop a substantial portion of Iraq’s oil resources (fields holding an estimated 62 billion barrels, or 54 percent of its proven reserves). The awarded contracts could increase Iraq’s oil export capacity by 500 percent over seven years, although internal infrastructure limitations and other factors will likely limit realization of this export potential. Iraq’s oil licensing rounds in 2009 may have been the world’s largest ever and were widely regarded as open, equitable, transparent, competitive, and free from corruption.
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COUNTRY FOCUS tive clarity regarding the NIL and the GOI’s relative lack of infrastructure coordination meant that the majority of the investments that have received NIC approval have yet to break ground. Both the national government and the Kurdish Regional Government (KRG) have the right to regulate investment. The KRG has its own investment law (Law 89 of 2004). The most significant difference between the KRG investment law and the national law is that the regional law allows foreigners to own land. Under the Iraqi Constitution, when there is a contradiction between regional and national legislation in the area of land ownership, the regional law becomes applicable.
Prospects of Doing Business in Iraq The oil contracts awarded are expected to bring billions of dollars in foreign direct investment in the coming years and spur the growth of the foreign and domestic private sector in Iraq. Despite these positive developments, the overall investment climate remained difficult and challenging, especially for small and medium investors. Potential investors should prepare themselves for significant security costs; cumbersome and confusing procedures for business visas or new business registration; long payment delays on some Iraqi government contracts; and sometimes unreliable, non-transparent dispute resolution mechanisms. Allegations of corruption are still endemic, and the legacy of central planning and inefficient stateowned enterprises continue to inhibit economic development. In its 2010 Doing Business Report, the World Bank ranked Iraq 153 out of 183 on the ease of doing business. The GOI has publicly stated its commitment to attracting foreign investment and took several steps in 2009 to improve its investment climate. The government passed long-awaited implementing regulations to the National 36 arabbusinessclub.org MARCH 2013
Investment Law (NIL) of 2006, which provides a baseline for a modern legal structure to protect foreign and domestic investors in addition to tax and other incentives. Additionally, the GOI passed an amendment to the NIL that allows for limited foreign ownership of land, albeit solely for the purpose of developing residential real estate projects. The amendment also sought to bring clarity to land allocation and use, a major inhibitor to investment. Unfortunately, a large majority of licensed investment projects remain stalled due to continuing confusion over land use responsibility at both the provincial and national level. Formed in accordance with the NIL of 2006, the National Investment Commission (NIC) and the Provincial Investment Commissions (PICs) are designed to be “one-stop shops” that can provide information, sign contracts, and facilitate registration for new foreign and domestic investors. The NIC and the PICs, however, are still works in progress. Investment Commissioners struggled with unclear lines of authority, budget restrictions, and the absence of regulations and standard operating procedures. An overall lack of legisla-
Some positive indicators of business opportunities are: • High growth rate and high revenue from oil: The World Bank and IMF project a high GDP growth rate of 10% in 2013, primarily driven by steadily increasing oil production and high prices for energy. Currently, Iraq’s oil production is up to 3 billion barrels per day (bpd), of which around 2.3 million bpd is exported. With oil prices at about $90 per barrel, Iraq’s production rate translates into roughly $100 billion a year in revenue. Iraq has the world’s fourth-largest oil reserves and aims to export 6 million bpd by 2017. According to the IEA World Energy Outlook (2012) special report, Iraq could become the world’s second-largest oil exporter within two decades and double its output by 2020. • Increased government spending: High revenues will keep government spending on the higher side amidst mounting pressure to provide basic services. This will buttress economic growth. Oil revenue will provide the necessary funding for development of
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infrastructure and other sectors of the economy, which along with ongoing economic and legislative reforms are creating an environment conducive to investment. The need for investment is high if jobs are to be created to bring down the current employment rate of 15% by half. • Laws in place for foreign Investment: Some laws on foreign investment are already in place. The foreign investment law passed shortly after the 2003 invasion now permits 100% foreign ownership of businesses in all sectors except oil and mineral extraction. Largely, the law tries to establish equality between foreigners and Iraqis on all terms of commercial interaction. As a result of the legislative reforms, foreign investment has grown from $3.87 billion in 2003 to $55.67 billion in 2011, an estimated 40.3% increase in total deal value over the previous year, according to Dunia Frontier Consultants.
• Diversification of economy: Iraq has lacked capital, technology, and skills for more than two decades due to prolonged sanctions and war. These vital inputs are needed in one and all sectors of economy as the country rebuilds, and the government recognizes the fact that foreign investors can bring them all. The Iraqi government is keen on diversifying the economy away from oil and has steadily opened the market to attract external investment and joint ventures in housing, infrastructure, industry, manufacturing, agriculture, food processing, transportation, financial services and tourism. To facilitate investment, the National Investment Law 13 (2006) has been amended to allow non-Iraqis to own land for housing projects, as well as investment partnerships with stateowned enterprises. The same Law exempts foreign companies from tax for up to ten years and import fees for a period of three years.
• Economic reforms: Iraq is making some progress in building the institutions needed for an open economic environment. In February 2010, Iraq concluded a Stand-By Arrangement (SBA) with the IMF that details further economic reforms. This legislation includes a hydrocarbon law with two basic aims: a) establishment of a modern legal framework to allow Iraq to develop its resources and b) enactment of a revenue sharing law to equitably divide oil revenues within the nation. Although both are still under contentious political negotiation, foreign oil companies have signed contracts throughout Iraq, giving them a “strategic entry” at this time that would ensure better/larger market share in the future. • Opportunities in retail sector: Iraq’s heavy import-reliance implies that there is great potential for investment in the retail sector. MARCH 2013 arabbusinessclub.org 37
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Challenges for Businesses in Iraq However, challenges of doing business in Iraq abound. As it stands, Iraq rates as one of the worst places in the world to do business, languishing at 166 out of 183 countries, according to a World Bank report. For starting a business Iraq ranks even lower, at 174. Yet, this has not deterred foreign businesses from coming in. Some of the specific problems are: • Security: The first and foremost problem is security. While the security environment has steadily improved since 2010, attacks on people and institutions occur on a more or less regular basis, perpetrated by al Qaeda’s Iraq wing and allied Sunni insurgent groups. A shaky federal government, rife with bitter sectarian and political fights, together with weak security services, have allowed militia and insurgent groups to assert themselves time and again, although the incidence
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of violence has dramatically decreased since the height of sectarian fighting of 2006–2007. Iraq still remains a high-risk place to invest with possibility of renewed violence and political instability. The security situation in the Iraqi Kurdistan Region (IKR), which includes the provinces of Sulaymaniyah, Irbil, and Dahuk, has been more stable relative to the rest of Iraq in recent years, though threats remain. • Corruption: As is the case with most developing economies, corruption in Iraq remains high. According to Transparency International’s Corruption Perception Index (2012), Iraq is ranked as the seventh most corrupt country in the world. Problems in Iraq include a lack of transparency in government regulations, government involvement in bribery and preferential tenders, embezzlement of public funds, a weak judicial system, feeble role for public opinion and the media in confronting corruption, and the ineffectiveness of public sector anti-
corruption efforts. The National Endowment for Democracy in its Iraqi Business Survey Report (2011) names corruption as the topmost factor hindering the growth of the Iraqi business sector. • Lack of Transparency: In order to improve the business environment in Iraq, there is also a pressing need for improving transparency within government procurement/contracting procedure in Iraq. Government contracting is one area where businesses perceive a high level of illegal activity, especially when it comes to contract grants, raising question of crony capitalism rather than free and open competition. TheIraqi government’s ability to tender projects is fundamentally weak, says the Department of Commerce Guide for US Companies (2012). Across the board, there are institutional capacity issues with regard to due diligence, project award, approvals, implementation, financing, and payment.
ARAB BUSINESS CLUB • Unequipped banking system: If Iraq is to attract substantially greater foreign investments, banking sector reforms are imperative. Althoughthe banking sector assets have grown rapidly over the last five years owing to massive oil revenues, banking infrastructures and operations have not kept pace with economic expansion. There are currently 51 banks in Iraq, seven of which are state-owned and hold 89% of the country’s bank deposits. State-owned banks are inefficient and ridden with bad debts and old losses. Despite being awash with liquidity, they have remarkably low lending rates as compared to the plethora of small, privately owned banks that are undercapitalized and therefore do limited lending. This highlights an urgent need for a level-playing field for competition from the private sector. As state-owned banks are favored vehicles for the Iraqi government’s expenditure policies, restructuring may force more transparency on its own fiscal activity, a move that may not yet find favor across board. • Intellectual Property Rights (IPR) issue: Enforcement and protection of intellectual property rights is another area of concern for business in Iraq. The IPR function is spread over several ministries, which thwarts a coherent policy. Although in July 2011, the Iraqi Government implemented a new pre-certification requirement for most imported product categories, counterfeit products in consumer goods and electronics are widely available. • Undeveloped arbitration law: Arbitration law for settlement of commercial disputes is undeveloped. In addition commercial arbitration courts are needed in different provinces to settle trade disputes involving non-Iraqi business partners. The Iraqi government is currently drafting an arbitration law based on UN International Commission on International Trade Law relating to international commercial arbitration.
• Internal dispute over oil rights: A critical issue that could impact Iraq’s sustained inflow of high revenue is the dispute over oil rights. The country’s government must overcome internal the dispute over oil rights with the autonomous Kurdistan Regional Government (KRG) based in Irbil in the north. If the government finalizes the hydrocarbon law and resolve its dispute with KRG, it would offer greater clarity to foreign oil investors, who are key to financing Iraq’s growth. Many warn that Iraq needs sustained investment of $25 billion a year on average for a decade to increase its level of output.
sectors such as residential real estate, oil and gas, electricity, water and sanitation, defense, medicine, commercial real estate and telecommunications, despite shaky security situation and political uncertainties.
Rosy Course despite All Challenges
Some indicative investments by Asian countries are as follows:
Nonetheless, the immense potential of Iraqi economy is steadily attracting foreign investors. The above-mentioned study by Dunia found over 45 countries active in Iraq in 2011, in the fields of investments, service contracts and other commercial activities into the country. Foreign investments have gone into top
In 2011, Asian countries were number one investors, constituting 42% of the total investment in Iraq, followed by Europe at 25.1% and the US at 12.4%. Among the Asians, South Korea topped the list, cornering 25.5% of the total investments. Turkey from the West Asian region stood a distant second at 6.6% followed by China, UAE and Iran.
South Korean investment went primarily into construction of housing units, water and sanitation, and electricity infrastructure. The country is also building power plants, most notably a 1500-megawatt power plant in Basra. Turkey is heavily into the housing sector, building large units in Karbala, Ninewa and international zone near Baghdad. MARCH 2013 arabbusinessclub.org 39
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“The most significant difference between the KRG investment law and the national law is that the regional law allows foreigners to own land.” It is also building a 750-megawatt power plant in Ninewa. China has invested heavily in the oil sector and electricity and power plant. Shanghai Electric is involved in expansion of Zubaidiyya power plant in Wasit and China National Machinery and Equipment Corporation is involved in the construction of 630-megawatt power plant, Salahuddin. UAE’s large investments have gone into building malls and shopping centers in Kurdistan. National Iranian Gas Company is engaged in constructing of natural gas export pipeline. A 4,125-megawatt power plant in Wasit is another striking investment by Iran. India’s modest investment includes a 550-megawatt power plant, Wasit, by India’s Bharat Heavy Electricals Limited. Saudi Arabian companies have shown interest in the agricultural sector but nothing has materialized yet, probably owing to frosty diplomatic relations between the two countries. Companies from Asia are beating their 40 arabbusinessclub.org MARCH 2013
European and American rivals in investments in Iraq. Being more prone to risk-taking, they are cashing in on the opportunity to establish businesses that would be profitable in the long-term. The fact that foreign companies from all over the world are willing to invest means that they are looking past the perception of Iraq as a dangerous place for sustained business. The profitable developments in oil sector and improvements in security are boosting investor confidence.
Many needs and much money After decades of war and sanctions, Iraq’s needs are great, and it has money to spend. Iraq ranks fourth in the world in proven oil reserves, and the rising price of oil has buoyed its cash reserves. Iraq has been issuing contracts to develop its oil fields and has sought help to rebuild its decrepit electrical grid in
an effort to keep up with skyrocketing demand as people buy TVs, air conditioners and other appliances. Iraq is also facing a housing shortage. Last year, Iraq announced it was awarding a contract of $11.28 billion to a Turkish consortium to help rebuild Sadr City, a sprawling Shiite slum in Baghdad, according to the Dunia report. The contract calls for building 75,000 homes, in addition to schools and mosques in a slum where sewage puddles in the streets and families are crammed in aging buildings.
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Key Economic Statistics GDP: $131B USD Per Capita Income: $4,360 USD Workforce: 7,740,000 Consumer Price Inflation: 6.8% Key Agricultural Products: Wheat, Barley, Rice, Vegetables, Dates, Cotton Key Sectors: Oil and Gas, Petrochemicals, Textiles, Leather Goods, Construction Materials, Food Processing, Metal Fabrication Average Daily Oil Production: 2.4M Barrels Average Daily Oil Exports: 1.8M Barrels Proven Oil Reserves: 115B Barrels Proven Natural Gas Reserves: 3.2T Cubic Meters
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When a Handshake Is Not Enough… Key Questions to Be Answered in Partnership Agreements You can, of course, create a general partnership agreement with a handshake - but it’s not smart. Like any relationship, partnerships are fraught with opportunities for disagreement and misunderstanding. But unlike most relationships, once you enter a partnership agreement with someone, you’re legally yoked to them until the partnership is officially dissolved. Using a written partnership agreement to formalize your partnership arrangement saves personal grief down the road because it allows you and your partner(s) to agree on how you’re going to handle particular situations before they arise. It will make the day-to-day operation of your partnership smoother and prevent problems from escalating into full-blown crises. And don’t dismiss the necessity for a partnership agreement because your proposed partner is your good friend; some of the ugliest partnership breakups 42 arabbusinessclub.org MARCH 2013
I have heard about or witnessed have occurred between friends who assumed that they knew what their friend thought or would do.
Elements of Good Partnership Agreements
A good partnership agreement has to provide answers to these questions: 1) What is the financial contribution of each partner? Memory is fluid and unreliable. You want
to ensure that the financial contribution that each partner brings to the partnership is written down in your partnership agreement in case of later disagreement. 2) What is the division of work between the partners? It’s critical to get this sorted out before you start operating as a partnership, because this is the most common way that partners step on each other’s toes. What will each partner actually do? How will they do it day to day? Who’s responsible for what decisions?
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“How will partners draw income from those profits? If it’s agreed that partners will draw salaries, how much? How often? And what percentage of the profits will be plowed back into the business?” 3) What constitutes income in the partnership? Obviously you hope that your partnership makes a profit. But how will partners draw income from those profits? If it’s agreed that partners will draw salaries, how much and how often? What percentage of the profits will be plowed back into the business? 4) What property is included in the partnership and how is it defined? Partners often bring property to the partnership that is less tangible that a piece of land or a building. Client lists, computer applications, goodwill, process designs - whatever intellectual or personal property that a individual brings to a partnership needs to be itemized and described in your partnership agreement. And if a partner is bringing tangible property to the partnership, get that written down and described, too. 5) How will/can partnership property be used by individual partners? Sometimes property use is obvious. If two people decide to partner to open a restaurant and one partner brings a property that she owns with a building suitable to being a restaurant on it to the partnership, that’s presumably what they would do. But sometimes it’s not. Does the creator of the web application want to allow the other partner(s) to modify it? Will the hairdresser share her clients? Get it sorted out ahead of time to avoid a lot of thorns. 6) How will bank accounts be set up and how will accounting and tax matters be handled? Obviously your partnership will need a business account. But how will signing
privileges be set up? Will your business use a line of credit? Can purchases be made without the consent of other partners? Will your partnership use a bookkeeper and/or accountant or will one of the partners do this? 7) How will disputes related to the partnership be resolved? It’s very nice to say that “we’ll sit down and discuss whatever issue comes up”. And you and your partner(s) may well do that. But that doesn’t mean that you’ll agree. Turning over your dispute to a mediator agreed on in advance is one way to break deadlocks. Another is to use your business advisory board to resolve disputes. Whatever way you choose, make sure that you have it written into your partnership agreement. 8) What happens if one partner dies or becomes disabled or incapacitated? If one partner becomes incapacitated or dies, how will the other(s) carry on the business? Making arrangements ahead of time can mean the difference between being able to continue doing business and business collapse. A buyout agreement is the answer; it specifies what happens to the ownership of the business if something happens to one of the partners. A buyout agreement can be an entirely separate agreement or exist as several clauses in your partnership agreement.
partner’s share of the business. (This may be limited to other partners, for instance.) 10) How will sale of the business be handled? Any small business should have its exit strategy planned from the get-go but it’s even more important with a partnership. If selling the business is the plan, partners need to agree in advance on acceptable processes and numbers. Two prime areas of future disagreement; business valuation and profit sharing. Commonly one partner feels she put more into the partnership or worked harder, so is due a bigger share.
Partnership Agreements Are Essential Planning ahead avoids disputes and costly court battles later. No matter how much of a friend your potential partner is, you should never enter a business partnership with him or her without a formally drawn up partnership agreement. Also, as partnership is a complex issue, I always recommend that people have partnership agreements drawn up by lawyers or other legal professionals who can explain partnership issues in more detail and make sure the partnership agreement says exactly what it needs to say.
9) What happens if one partner wants to leave the partnership? This is also a situation that will be covered by your buyout agreement. Issues your buyout agreement should cover include whether or not a departing partner has to be bought out, what price will be paid and how, and who can buy the departing MARCH 2013 arabbusinessclub.org 43
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New Business Trends for 2013 This article discusses the latest business trends that will affect the way we do business this year & beyond. Some of these business trends are sources of good business opportunities; others are trends we need to incorporate into our small business practices to stay competitive and keep or grow our market share. 1. Cloud Computing
Small businesses can directly benefit from the cloud computing business trend by using cloud-based applications to cut down on the expense and trouble of doing the same thing themselves. Using someone else’s mail servers through the Internet can be much more cost-effective (and hassle-free) than setting up your own email server in-house, for example, - especially if you don’t have a dedicated IT person or department. But with increasing numbers of businesses looking to contract out business processes, small businesses are
also well-positioned to benefit from the cloud computing trend by picking up some business. It’s not size or location that matters with cloud computing, it’s expertise.
2. Social Media
Social media is one of those business trends your small business can’t afford to ignore. Facebook isn’t just something that kids are using any more and social networks are increasingly becoming business networks as people’s social/personal/business lives converge. Simply put, if that’s where they are, that’s where you need to be if you want to sell more widgets.
That doesn’t necessarily mean that you need to get heavily into social media marketing this year (although if you do it properly, it can be a real sales booster). But you do need to at least start developing a social media presence for your small business. If you’re just starting out with using social media for business, my advice is to choose one social media tool and work with it over time. For instance, you might put up a Facebook fan page for your business and try to engage customers and get them interested in your products and services.
“Social media is one of those business trends your small business can’t afford to ignore. You do need to at least start developing a social media presence for your small business.” MARCH 2013 arabbusinessclub.org 45
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Resources – Management
3. Mobile Marketing
Remember when people used to carry around a laptop and a phone? It’s something we’re seeing less and less of because increasingly, what people used to do on their laptops, they now do on their phones. You don’t need a separate computer to browse the Web, work on documents or play games because phones are computers. One implication of this business trend is that you need to be sure your business is mobile friendly. Are your web pages etc. available in mobile versions so they look good on phone screens? Another implication is that some of the desktops/laptops in your business may be redundant or replaceable with phones. And a third is that it’s time to develop a mobile marketing strategy as using mobile devices to research products is becoming common consumer behavior. 46 arabbusinessclub.org MARCH 2013
4. Rise of the Phone App
This business trend is also consumerdriven and closely related to mobile computing. Above, I said the phone is a computer. But it’s also so much more, thanks to the public’s insatiable appetite for phone apps. Business-wise, phone apps are replacing everything from mileage log books through credit card readers. An iPhone app called Square, for example, lets you accept credit card payments by plugging a card reader into your iPhone. (The iPad can also be used as a POS system.) Your small business can benefit from this business trend by using phone apps to eliminate some of your other office equipment and supplies. You might also benefit by creating and selling your own phone app. The Amazon App is an (in) famous example of a shopping app; it scans bar codes and comparison shops, letting customers know if they can get
a better deal through Amazon’s website or not.
5. Corporate Social Responsibility
Corporate social responsibility isn’t just for big businesses; small businesses, too, can reap great benefits by being perceived as good members of the community. It matters to consumers and it matters to other businesses, who want to make sure that their suppliers are as green and socially responsible as possible and appropriate to their own corporate images. The benefit? Besides being a good thing to do it itself, it allows small businesses to compete with larger companies and can significantly improve the bottom line. If you don’t already have a corporate social responsibility strategy, this is the year to get one in place and start publicizing your work for good causes.
ARAB BUSINESS CLUB
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Resources – Management
How to Incorporate Your Small Business
When you start a small business, you need to decide how to structure it. Each structure has pros and cons, and the best format will depend on your business, location and specific needs.
I
f you have determined that a corporation is the right structure for your business you can follow these steps to become incorporated. Please note that you should always consult an accountant and/or attorney if you have questions about the process.
Step 1: Choose Your Business Name The first step is choosing a name for your business. An effective business name should fit what you do, how you do it and the audience you are trying to reach. It should be something people will understand and remember. 48 arabbusinessclub.org MARCH 2013
ARAB BUSINESS CLUB
Once you create a business name, you should check with your state’s corporate filing office as well as federal and state trademark registrars to see if it’s available. It’s also a good idea to come up with an alternate name in case your first choice is not available.
Step 2: Identify Your Location Next, you need to select a state as your headquarters’ location. This doesn’t necessarily need to be where you live or even where you expect to do the majority of your business, although sticking with your home state may be an easier process.
each corporation type and consult a tax accountant for advice.
Step 4: Name the Company Directors The next step involves selecting the directors. A corporation is required to have a board of directors who are effectively responsible for running the corporation. The selection of directors is a very important decision and can impact your business in many ways.
Step 5: Determine the Type of Shares
Some factors to consider when choosing a state for incorporation include the cost to incorporate, taxation and corporate laws.
Next, you will select the type of shares your corporation will sell to stockholders. In many cases, corporations are private, limiting the availability of the shares to only a few individuals (your directors).
Step 3: Select the Type of Corporation
Step 6: Obtain a Certificate of Incorporation
Now, it’s time to decide what type of corporation you will form. You can incorporate your business as a C Corporation, an S Corporation or an LLC. Each of these types has their own advantages and disadvantages, so you should explore the explanations of
You will then obtain and complete a Certificate of Incorporation, available from your state’s corporate filing office. It will include your company name, purpose of the business, location and other information gathered in the previous steps.
Step 7: Process and File the Paperwork The final step of incorporation involves submitting the articles of incorporation you prepared in the last step to the state, along with the required registration fee. You have the option of filing the paperwork yourself, through your attorney or by using a third-party service. You should choose the option that you are most comfortable with and the one that works within your budget. Choosing the structure of your business is not an easy or small decision to make. Take the time necessary to gather all of the information you need to make an informed decision.
“Some factors to consider when choosing a state for incorporation include the cost to incorporate, taxation and corporate laws.” MARCH 2013 arabbusinessclub.org 49
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market intelligence
Lebanon inks $348m deal for power plants Lebanon’s energy ministry has signed a $348m agreement with a Danish-German consortium to build new power plants in Jiyyeh and Zouk, The Daily Star has reported. British bank HSBC and the EKF, Denmark’s export credit agency, have offered to provide an extended loan for the project. Under the contract, Danish BWSC and German Man Diesel will build two plants, with a maximum capacity of 272 megawatts, at the same locations housing Lebanon’s two biggest power plants.
Two Omani investment firms approve merger
Egypt’s Arab Contractors awarded $10m contract in Nigeria Egyptian construction firm Arab Contractors has said it has been awarded a $10m contract to build a major government facility in Nigeria’s southern Kanojo region, Mena has reported. The deal is part of a series of other construction projects in Nigeria being managed by the state-run firm. In 2012 alone, the company submitted bids on construction projects in the West African nation worth a total of $165m. 50 arabbusinessclub.org MARCH 2013
Omani investment holding firm Transgulf Investment Holding and Al Madina Financial and Investment Services have announced plans to merge to create a ‘stronger entity,’ Muscat Daily has reported. The two firms hired KPMG as the independent consultant to carry out the necessary procedures with respect to the merger. Transgulf Investment already holds a 19.64% stake in Al Madina Financial Services. The company posted a net profit of OR2.33m for the quarter ended December 31, 2012, compared with a net loss of OR311,705 for the same period a year ago.
ARAB BUSINESS CLUB
Dubai approves Dhs6bn island project Dubai has approved plans for a Dhs6bn ($1.6bn) new island project to be developed by stateowned Meraas Holding, Reuters has reported. The Bluewaters Island development includes a Dhs1bn, 210-metre high ferris wheel, the Dubai Eye, inspired by the 135-metre high London Eye on the River Thames. South Korea’s Hyundai Contracting and Starneth Engineering, whose engineers helped build the London Eye, have been appointed primary contractors for the design and construction of Dubai Eye.
Saudia to become a holding firm within 5 years Khaled Al-Molhem, the managing director of Saudi Arabian Airlines (Saudia) has said the carrier is to be transformed into a holding company within five years, Arab News has reported. Five new companies affiliated with the organisation will also be privatised, Al-Molhem added. Saudia has already privatised its catering, cargo and ground service divisions. The catering company has sold 30% of its shares in an initial public offering. MARCH 2013 arabbusinessclub.org 51
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market intelligence
Abu Dhabi Group cancels $45bn Pakistan project Abu Dhabi Group has cancelled a tentative agreement with Pakistani businessman Malik Riaz Hussain to build residential properties on an island at a total cost of $45bn, Reuters has reported. The cancellation comes less than two weeks after the deal was signed. “It is...unfortunate that discussions between the parties could not reach any conclusion and the Memorandum of Understanding has been cancelled,” the firm said.
Ma’aden to build SR1bn gold production plant Ma’aden Gold and Base Metals Co (MGBM), an affiliate of Saudi Arabian Mining Co (Ma’aden), has signed a contract for the establishment of Al-Dowaihi Plant for Gold Production with a South Korean company at a cost of more than SR1bn, Arab News has reported. The plant will refine about two million tonnes of ore annually from Al-Dowaihi mine in the Makkah province and will produce on average 180,000 ounces of net gold annually, said Ma’aden executive president, Khaled Al-Mudaifer. MGBM operates five gold mines in the kingdom, which have produced more than four million ounces of gold since 1988.
Jordan mulling restarting Amman’s BRT project A Jordanian government committee has said the Bus Rapid Transit (BRT) project is vital in resolving the growing traffic in the capital city and recommended that the Greater Amman Municipality (GAM) should restart the project after making minor amendments, Jordan Times has reported. Work on the project stopped in the summer of 2011 amid concerns over its feasibility and funding, before the cabinet officially suspended it and halted all related tenders. The multimillion-dollar project, which GAM embarked on in 2009, involves operating premium, high-capacity buses that can carry more than 120 passengers and will run on a three-minute frequency during peak hours on segregated lanes along Amman’s busiest corridors.
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EVENTS’ DIARY
Arab Business Club 2nd Middle East Free Zone Event - 13th March 2013 The Middle East Free Zone Event aims to gather the Free Zone business leaders to talk about business freedom in UAE Free Zones. The event is also designed to tackle different strategies on how a certain organization can achieve sustainable competitive advantage in UAE and worldwide markets. EVENT DETAILS: Date: 13th March 2013 Venue: Al Murooj Rotana, Sheikh Zayed Road,Dubai, U.A.E.
Arab Business Club 2nd Banking and Finance Event - May 8, 2013 The 2nd Banking and Finance Event will bring together the Arab Business Owners, C Level Management of Companies within Banking, Finance, and Investments in Banks and Stock Markets. The program for the 2013 Banking and Finance Event is designed to focus on important current issues in banking and finance. EVENT DETAILS: Date: May 8, 2013 Venue: Dubai, UAE
Arab Business Club Health Care Event - 11th September 2013 The Health & Care Event aims to be the foremost annual gathering of the Arab Business Owners Business owners and C level management Hospitals, Ministry of Health, Health Care City Hospitals, Pharmacies, Doctors, Medical Suppliers, Medical Universities, and Medical HR. The program for the 2013 Health & Care Event is designed to provide an unrivalled platform for the world’s leading manufacturers, wholesalers and distributors to meet the medical and scientific community from the Middle East and beyond. EVENT DETAILS: Date: 11th September 2013 Venue: Dubai, UAE
Arab Business Club General Networking Event - 9th October2013 The General Networking Event aims to be the foremost gathering of the high-profile business leaders in U.A.E. The program for the 2013 General Networking Event is designed to focus on the economic prospects of U.A.E. EVENT DETAILS: Date: 9th October2013 Venue: Dubai, UAE
Arab Business Club Energy, Oil, and Gas Event - 11th December 2013 This event aims to be the foremost gathering of Business owners and C level management Oil and Gas Industries, Petroleum Companies, Oil Logistics and Investors in Oil and Gas. The program for the 2013 Energy, Oil & Gas Meeting is the place where oil and gas industry professionals get together to experience, discover, network, discuss and debate core industry issues. EVENT DETAILS: Date: 11th December 2013 Venue: Dubai, UAE
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ARAB BUSINESS CLUB
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BUSINESS
SPONSORING ARAB BUSINESS CLUB’S EVENTS FOR 2013
Sponsors will maximize the return on their investment by combining event-marketing benefits with advertising and media relations. • • • • • •
A chance to network with business elites New business opportunities International exposure Emerging Markets Worldwide Branding Marketing through events & Online marketing through Arab Business Club online engine
SPONSORSHIP PACKAGES Platinum Sponsorship AED 45, 000 per Event
Gold Sponsorship AED 35, 000 per Event
Silver Sponsorship AED 15, 000 per Event
• 5 VIP Seats in the sponsored event • 12 full page ad in 12 series of ABC Magazine. • Interview for your top management in our magazine. • Website Link and Logo on the Arab Business Club Webpage (homepage/starting page) • Exposure through our online media about your offers and promotions to our members and to our registered users during our event period. • Presenting your marketing materials in the sponsored event. • Speech by your top management at the sponsored event. • Corporate Membership ; Elite Membership for CEO and 4 Premium member slots for Top Management • Logo on Invitation for the Sponsored Event • Recognition in press releases • News supplied by your company to be featured in ABC magazine
• 3 VIP Seats on the sponsored event • 6 full page ad in 6 series of ABC Magazine. • Interview for your top management in our magazine. • Website Link and Logo on the Arab Business Club Webpage (homepage/ starting page) • Exposure through our online media about your offers and promotions to our members and to our registered users during our event period. • Presenting your marketing materials in the sponsored event. • Speech by your top management at the sponsored event. • Logo on Invitation for the Sponsored Event • Recognition in press releases
• 2 VIP Seats on the sponsored event • 2 full page ad in 2 series of ABC Magazine. • Interview for your top management in our magazine. • Website Link and Logo on the Arab Business Club Webpage (homepage/ starting page) • Exposure through our online media about your offers and promotions to our members and to our registered users during our event period. • Presenting your marketing materials in the sponsored event. • Logo on Invitation for the Sponsored Event • Recognition in press releases
Financial Terms & Conditions: For - Platinum, Gold, and Silver Sponsor 100% payment at the time of booking. If you are interested in taking up any of these sponsorship opportunities please fill in the sponsorship form on the next page and e-mail to events@arabbusinessclub.org.
If you would like to discuss the sponsorship in more details please feel free to contact: Events Department Arab Business Club +971 4 358 3000 +971 55 968 7167 events@arabbusinessclub.org
MARCH 2013 arabbusinessclub.org 55
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OPPORTUNITIES
Tourism
Tourism
Reference code: abc128
Reference code: abc129
Dubai: Partner for a tourism company
Abu Dhabi: Partner for a tourism company
Description Leading and established tourism company in Dubai with its own compound is looking for a partner.
Description Leading and established tourism company in Dubai with its own desert compound and contracts with leading airlines for sale.
The offer Cost: US$ 1-2m Contact: hamdan@imail.ae Mobile: +97150 886 4116
Supplier
The offer Cost: US$ 12m Contact: hamdan@imail.ae Mobile: +97150 886 4116
Supplier
Reference code: abc130
Reference code: abc131
UAE: Importer for livestock from Angola
UAE: Importer for Timber from Angola
Description We need an importer for livestock from Angola
Description We need an importer for Timber from Angola
The offer Cost: US$ 12m
Contact: hamdan@imail.ae Mobile: +97150 886 4116
Contact: hamdan@imail.ae Mobile: +97150 886 4116
Support Services
TOURISM
Reference code: abc132
Reference code: abc136
Angola: Marines Service and Maintenance
UAE: Tourism Company for Sale in Dubai
Description We need an investor for a service facility for yachts and fishing boat engines in Angola.
Description Tourism Company for Sale in Dubai: 100 Tourist Visa, 10 Transit Visa, No Office only License, Expiry Date for Trade License is at Feb 2013.
The offer Cost: US$ 12m Contact: hamdan@imail.ae Mobile: +97150 886 4116
56 arabbusinessclub.org MARCH 2013
The offer: Cost: 575.000 AED, 275,000 AED Deposit Contact: hamdan@imail.ae Mobile: 00971 508864116
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OPPORTUNITIES
DISTRIBUTION Reference code: abc115 UAE: Magazine distribution service Description: We cover distribution services of magazines to Governments, companies, Embassies & consulates, hotels, Airport lounges, etc, in UAE; we also handle distribution to Bookstores, Fuel stations, and other places that sell magazine. We also use distribution of magazine via Emirates post. We can send to our list, or you can provide us with your list. We can handle the National media council approvals for international magazines for distribution as well.
Financial Services
SERVICES
Reference code: abc135
Reference code: abc117
UAE: Money Exchange License for Sale in Dubai
UAE: Business setup service
Description Money exchange license for sale in Dubai. It’s a new approval from central bank.
Complete solution for setting up your company in UAE, including company formation service sponsor/service agent, PRO service, market research, etc.
The offer: Cost: 2.700.000 AED No deposit
Please contact us at hm@wt.ae Mobile: +97155 968 7177
Contact: hamdan@imail.ae Mobile: 00971 508864116
Contact: hamdan@imail.ae Mobile: +97150 886 4116
Energy
Supplier
Manufacturing
Reference code: abc123
Reference code: abc134
Reference code: abc125
UAE: J.V in Renewable Energy, Bio Diesel Plant in Al Qouz Description: an oppertiniouty to invest and become a partner in 100 MT PD Bio Diesel Plant. We use used cooking oil from various Kitchens n convert it in to Bio Diesel This is a Biodegradable substance used to run Diesel engine Truck or Generators. Also used as Recycled Base Lube in Automobile engine oil for blending. Plant is fully paid up n Urgent Require cash flow for Working Capital,100% production sold. The offer US$ 555.000
Oman: Importer for Riot Police Gear to Oman
UAE: Labels and Sticker factory for sales
Description We need a supplier for Riot Police Gear to Oman
Description: Factory for stickers and labels cards with its equipment and machinery and valid trade license in Quz 4 area. Size is 2000 sq.ft, the income is between 300 to 500 thousand AED.
Contact: hamdan@imail.ae Mobile: +97150 886 4116
The Offer: US$ 365.000 (Negotiable) Contact: hamdan@imail.ae Mobile: +97150 886 4116
Contact: hamdan@imail.ae Mobile: +97150 886 4116
CONSTRUCTION
MANUFACTURING
Reference code: abc120
Reference code: abc121
UAE: Contracting Company for sale A contracting company (G+1 Grade, already finished meeting requirements to upgrade To G+4) with clean record and big government projects under construction.
UAE: Furniture factory for sale Description Furniture factory for sale with valid commercial trade license, 15 staff , accommodation: 6 rooms attached to factory, carpentry area, upholstery area , curtain area, painting area. The factory manufacture the following: doors, dressing rooms, sofas, wooden décor, curtains and all related furniture types. Area of the factory is 1500 square meters and it is located in Umm al-Quwain.
Offer: Cost: US$ 838,000 Negotiable Contact: hamdan@imail.ae Mobile: +97150 886 4116
Offer Cost: US$ 190,500
List your ad here so it can be seen by thousands of investors and business men all over the world. Contact: ads@arabbusinessclub.org
Contact: hamdan@imail.ae Mobile: +97150 886 4116
To list your classified ad, contact: ads@arabbusinessclub.org, Rate: $100 per listing 58 arabbusinessclub.org MARCH 2013
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P. O. Box: 4184, Ajman, United Arab Emirates MARCH 2013 arabbusinessclub.org Tel: +9716 7438333, Fax: +9716 7431515, E-mail: info@thumbay.com
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Members’ Exclusive 30 Days Tourist Visa to the UAE Arab Business Club is now providing its members with the unique service of securing a 30 days tourist visa to the UAE, hassle free and for a special rate of US 220$ only. For more information, please send your inquiries to visa@arabbusinessclub.org
Special Rates on Hotel Reservations Arab Business Club is now providing its members with the unique service of offering special rates on hotel booking and reservations. We provide reservation in 5 and 4 star hotels and luxury hotel apartments, throughout the UAE. Options for short, long or permanent stay are available. For more information, please send your inquiries to hotels@arabbusinessclub.org
Airport Pick-up / Limousine Service Arab Business Club is now providing its members with unique transportation services that include: - Airport Pick-up. - Limousine service with driver. - Car rental services. We provide only the latest and most luxurious car and limousine brands, giving you an unmatched list of premium options to choose from. For more information, please send your inquiries to car@arabbusinessclub.org
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ARAB BUSINESS CLUB Business Set-up and Counseling Services Arab Business Club, the premier global business leaders’ community, is proud to provide its members with comprehensive and custom-tailored business set-up and counseling services that include: - Helping with license documents and requirements. - Providing influential and trust-worthy local partners. - Business counseling services (Business ideas, investment opportunities, business buying/selling, feasibility studies, market research, etc.) - Hiring and employment services. For more information, please send your inquiries to setup@arabbusinessclub.org
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Special Rates on Tours and Safaris
Arab Business Club is proud to provide its members with special rates on some of the UAE’s most attractive and sought after tour and safari programs. The offer includes plenty of unique and carefully planned activities: - Desert Safaris (different programs available) - Shopping Tours - Tours of all UAE cities - Adventures (several programs available) - Cruise ship Tours For more information, please send your inquiries to tours@arabbusinessclub.org.
so you don’t
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Members’ LIST
ABC Latest Member List NAME
COMPANY
DESIGNATION
LOCATION
INDUSTRY
Ministry of Economy
Director of Investment Department
U.A.E.
Government
Abbas Al Hajj
The Hospitality World Fze
CEO
U.A.E.
Hospitality
H.H. Sheikh Jumah Bin Maktoum Bin Jumah Al Maktoum
SJM Group of Companies
Chairman
U.A.E.
Conglomerate
Expo Centre Sharjah
Director General
U.A.E.
Exhibitions
Al Shaali Group
CEO
U.A.E.
Conglomerate
Saif and Jos L.L.C.
Dep. General Manager
U.A.E.
Conglomerate
Ali A.Yateem
Yateem Group
Vice Chairman
U.A.E.
Trading
Khalid A.Yateem
Yateem Group
Director
U.A.E.
Trading
Kirill Vishensky
LOGIS Middle East DMC Co
CEO
U.A.E.
International Logistics and Trasport Services
Gaya Zhakenova
LOGIS Middle East DMC Co
Manager - Business Development
U.A.E.
International Logistics and Trasport Services
Adel Saeed Jawas
MYCO Shipping & Clearing
General Manager
U.A.E.
Logistics
Petros Kallidis
Elite Insurance Brokers
Managing Partner
U.A.E.
Insurance Brokers
Jassem Mohamed Al Bloushi
Sharjah Tatweer Forum
Chairman
U.A.E.
Non-profit organization
Kamal Salim Al Yammahi
Ministry of Foreign Trade
Director, Strategic Planning & Institutional Excellence
U.A.E.
Government
H.E. Abdul Aziz Al Harthi
East of Oman Development Establishment
CEO
Oman
Transportation and Logistics
Nada Yousuf Al Hashimi
H.E. Saif Mohammed Al Midfa Dr. Sultan Al Shaali Dr. Mohammed Kassem Al Nami
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BUSINESS CLUB In a glance Arab Business Club is an international business platform built for the World’s business elites; particularly those who are interested in building trustworthy and beneficial business relationswith the Arab World. We break through the barriers of culture, Geography and language and bring together elite Businessmen and women, investors, C-level management personnel and decision makersenabling fruitful business ties to be forged quickly and efficiently. • Arab Business Club was established since August 2008. • The Club has more then 8500 Members from 27 countries including Key business players, top management professionals, decision makers and high-ranking diplomats. • Promoting investment opportunities worldwide. • Promoting our members’ services, products and investments. • Business & investment matchmaking through our wide connections and regular events. • Facilitating relations and communication with Arab governments and authorities. Bringing together investors and investment opportunities owners. • Hosting and organizing exclusive and trend-setting business and networking events. • Leading and supporting investors & business delegations to/from the Arab World. • Supporting business setup and establishment in the region through providing advice, feasibility studies, consultancy, local partnerships and helping with licensing process. • Providing Legal support and advice to our members. • Hosting and organizing specialized events: Healthcare, Oil & Gas, Tourism, etc.a
Main Partners and Members
BC
MALAYSIAN BUSINESS COUNCIL. UAE
marine Boats&Yachts International Logistics and Transport Services
MARCH 2013 arabbusinessclub.org 63
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resources - contacts
Arab Chambers of Commerce & Industry ALGIERS CHAMBER OF COMMERCE Chambre de Commerce Palais Consulaire B.P. 100 - Alger Ier Novembre 6, Bd Amilcar Cabral, Bab-El Oued. Algiers, Algeria Phone: (213) 2-574444 Fax: (213) 2-629991 BAHRAIN CHAMBER OF COMMERCE & INDUSTRY PO Box 248, King Faisal Highway Manama, Bahrain Phone: (973) 229 555 Fax: (973) 224 985 DJIBOUTI CHAMBER OF COMMERCE Place de LaGuarde PO Box 84 Djibouti, Djibouti FEDERATION OF EGYPTIAN CHAMBERS OF COMMERCE 4, Midan El Falaki Street Cairo, Egypt Phone: (202) 3551164 Fax: (202) 3557940 FEDERATION OF IRAQI CHAMBERS OF COMMERCE P.O. Box 11348 Mustansir Street Baghdad , Iraq Phone: (964) 1-8888850 Fax: (964)1-8882305 FEDERATION OF JORDANIAN CHAMBERS OF COMMERCE PO Box 7029 Amman, Jordan Phone: (962) 6-665492/674-495 Fax: (962) 6-685997 KUWAITI CHAMBER OF COMMERCE & INDUSTRY Chamber’s Building Ali Al Salem Street. PO Box 775 13800 Safat, 13091 Kuwait Phone: (965) 2439155/2468934 Fax: (965) 2452080 64 arabbusinessclub.org MARCH 2013
BEIRUT CHAMBER OF COMMERCE & INDUSTRY PO Box 11801, Samayah 2100, Justinian Street Beirut, Lebanon Phone: (961) 1-353390 Fax: (961) 1-866802 GENERAL UNION OF ARAB CHAMBERS OF COMMERCE, INDUSTRY & AGRICULTURE P.O. Box 2837-11 Beirut, Lebanon Phone: (961) 1-814269 FEDERATION OF CHAMBERS OF COMMERCE, INDUSTRY & AGRICULTURE P.O. Box 2321 Tripoli, Libya Phone: (218) 21-33755
MAURITANIA CHAMBER OF COMMERCE & INDUSTRY PO Box 215 Avenue de la Republique Mauritania, Mauritania Phone: (222) 2-52214 Fax: (222) 2-53895 FEDERATION OF MOROCCAN CHAMBERS OF COMMERCE 6 Rue Erfoud PO Box 218 Rabat, Morocco Phone: (212) 7-767051 Fax: (212) 7-767076 OMAN CHAMBER OF COMMERCE AND INDUSTRY PO Box 4400 Ruwi, Muscat, Oman Phone: (968) 707674/684/694 Fax: (968) 708497 QATAR CHAMBER OF COMMERCE & INDUSTRY PO Box 402 Doha, Qatar Phone: (974) 324347/326366 Fax: (974) 324338
COUNCIL OF SAUDI CHAMBERS OF COMMERCE & INDUSTRY PO Box 16683, Riyadh, 11474 Saudi Arabia Phone: (966) 1-4053200 Fax: (966) 1 4024747 MOGADISHU CHAMBER OF COMMERCE INDUSTRY & AGRICULTURE P.O.Box 27 Via Asha Mogadishu Somalia Phone: (252) 3209 SUDAN CHAMBER OF COMMERCE PO Box 1701 Khartoum, Sudan Tel: 249-1172345 FEDERATION OF SYRIAN CHAMBERS OF COMMERCE Damascus - Mousa Ben Nousair St. P.O. Box 5909 Phone No. 0096311 3311504 / 3337344 Fax No. 0096311 3331127 TUNISIAN UNION OF INDUSTRY, COMMERCE & HANDICRAFTS 103 Avenue De La Liberte Tunis, Tunisia Phone: (216) 1-780366 Fax: (216) 1-782143 FEDERATION OF THE U.A.E CHAMBER OF COMMERCE & INDUSTRY. PO Box 3014, Abu Dhabi United Arab Emirates Phone: (971) 2-214144 Fax: (971) 2- 339210 FEDERATION OF YEMEN CHAMBERS OF COMMERCE & INDUSTRYPO box 16990, Hasaba, Airport Road Sana’a Phone: (967) 1-223539 Fax: (967) 1-251551
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